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New Jersey Antitrust Lawyers
The unfair practices of both trusts and monopolies lead to the United States’ push for antitrust litigation. The Sherman Antitrust Act, passed in 1890, was created to eliminate market domination by a single entity, promote economic competitiveness, and carry out the “invisible hand” of the free market economy.
Trusts and monopolies dominated the United States markets in the 1800’s, leaving little room for competition within various industries. Trusts enabled a conglomerate of companies to team up in an effort to reduce competition and artificially raise prices.
A monopoly consists of a single company that controls most, if not all, of a particular business or industry. The market dominance enables the company to, among other things, achieve the most cost effective production and control the market through pricing.
Section 1 of the Sherman Antitrust Act prohibits price fixing and Section 2 prohibits the formation or attempted formation of a monopoly. In addition to the Sherman Antitrust Act, the Clayton Act and the Federal Trade Commission Act further outlaw tying agreements, collusive bidding, predatory pricing and exclusive dealing agreements, all for the purpose of encouraging fair and competitive corporate economic practices.
Many companies prefer to avoid antitrust litigation as it can be very costly and the consequences can include fines or mandates to deny their holdings.
If a government thinks a company has a monopoly or is engaging in price discrimination or price fixing, it can initiate antitrust litigation.
If you would like to pursue an antitrust lawsuit against a company hindering the free market, get your free consultation today and contact us now for more information. You can also give us a call at 855-800-0093.